Gallup released a poll Thursday showing that overall stock ownership among US adults remains 8 percentage points below its pre-crisis level. But even as the crisis appears to have scared many Americans away from owning stocks, there are two demographic subgroups where ownership has held firm: Adults aged 65 and older and those with an annual household income of $100,000 or more.
In the latest bombshell to hit President Trump, Bloomberg reports his administration may have inadvertently taken money from an enemy of the U.S. - but this time it's the Syrian government of President Bashar al-Assad... via Venezuela.
In a report published Thursday, Bloomberg alleges that Citgo officials were involved in a plot to illegally disguise Syrian crude and sell it at gas stations in the U.S..
Well, Trump did warn he would appeal the travel ban all the way to the Supreme Court if he had to, and that's precisely what he plans on doing.
After yesterday Goldman mocked Trump's budget (ironic as it was Trump's ex-Goldman Chief Economic Advisor who conceived it) and said it had zero chance of being implemented, today it was JPM's turn to share some purely philosophical thoughts on the shape of future US income and spending, which as we learned yesterday could balance only if the US grows for 10 years at a 3% growth rate, something it has never done, while slashing nearly $4 trillion in in spending, something else it has never done.
The following article by David Haggith was published on The Great Recession Blog:
The following is not simply a list of negative risks to the economy but a list of of serious economic conditions that are already placing drought-like pressures on the overall economy. This list doesn’t include the long-term structural problems with the economy, such as its high debt burden, but just the forces that have risen against it this year.